TOMI Environmental Solutions Executives Will Reduce Their Compensation By 30% Of Their Current Cash Compensation For The Remainder Of 2024; Says "This Summer, The Company Anticipates Securing A Significant Contract"
$TOMZ
Major Chemicals
Industrials
Company restructures executive compensation and reduces external consulting fees
Expects to reduce cash used in operations by 30% (Approximately $500,000) by end of 2024
Company to continue to invest in sales personnel and global distribution network to expand product reach
FREDERICK, Md., June 06, 2024 (GLOBE NEWSWIRE) -- TOMI Environmental Solutions, Inc.® ("TOMI") (NASDAQ:TOMZ), a global company specializing in disinfection and decontamination utilizing its premier Binary Ionization Technology (BIT) platform through its SteraMist brand of products, today announced comprehensive cost reduction initiatives to align the Company's cost structure with targeted profitability objectives.